Date

30 Aug 2022

Attendees

Agenda

1) Use Case reminder

2) Where we are on our road map.

3) Open Action Items

4) JIRA Issues Review - https://jira.edmcouncil.org/projects/DER/issues/DER-10?filter=allopenissues

5) Todays content discussion.

6) For next week.

Proceedings:

A strategy from the CFTC perspective involves a trading algorithm that is triggered by some set of events in the market leading to a large amount of buying or selling that also needs to be reported. If it was not reported in advance then the organization can be fined in significant amounts. Butterflies, strangles, condors, etc. are instruments rather than strategies from a CFTC perspective. For strangles, straddles, etc., you have a strangle, straddle, condor, butterfly, etc. then you put the instrument type, such as "strangle" in the reporting and they understand that. The question is how is this reported - quarterly / monthly, including margin, cash flow, strategies ... comes under accounting for very large institutions that are in commodities.

FINRA, NFA, and CME didn't want to adopt XBRL for reporting and so CFTC said ok due to lack of resources. So that's why these organizations do not use XBRL for reporting purposes - they use generic XML. IF we come up with something useful for an SBRM reporting envelope we should reach out to these organizations with respect to reporting accounting information.

We reviewed the open issues in Jira and agreed to work on DER-127 next, to complete the coverage of the CFI for swaps. We have most of it but there are gaps with respect to commodity swaps.

Decisions:

Action items

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